MOL to launch 44 new carriers

Japan’s Mitsui OSK Lines is to increase its iron ore newbuilding orderbook to 44 vessels under a growth plan announced last week.

MOL TO LAUNCH 44 NEW IRON ORE CARRIERS

Japan’s Mitsui OSK Lines is to increase its iron ore newbuilding orderbook to 44 vessels under a growth plan announced last week. Between now and 2012, MOL’s ore carrier fleet will increase from 118 capesize and panamax vessels to around 150, 120 capesize and 30 panamax. The company has contracts lined up for half the ordered ships.

“MOL expects production of crude steel will continue to grow, particularly in China, where major players in the industry are restructuring and integrating their operations,” the company said in a statement. “As a result, demand for the transport of raw materials for steel will also increase. As a leader in worldwide ore carrier operators, MOL is expanding its large-scale fleet with various types of vessels to meet diverse customer needs.”